ShepWave Updates for Thursday. YOU JUST CAN'T MAKE THIS STUFF UP!. TURN OFF THE CNBC
by ShepWave.com
Posted: 6/14/2017 22:07 EST

Regular Update for Thursday. Daily View of the Equity Indexes, Crude Oil, Gold and the VIX--has been published.

Notice the critical pattern we are now seeing in the Dow Transportation index. Yes, that index does play a role in affirming the overall direction of the markets.

Remember last week we saw some very critical patterns work out in the Nasdaq. See how that is playing so far this week? YOU JUST CAN'T MAKE THIS STUFF UP!

Also, recognize (1) indexes do not go straight down or straight up and (2) the objective trader/investor is constantly looking for verification trigger signals--it is the emotional type of trader (watching CNBC) who gets overconfident.

An example of that is the action in Crude Oil. Take some time to review the updates over just the past couple of months and see who we have been trading that commodity.  Where is the mystic that so many claim is in Oil?  We just don't see it.

The Pre-Market / Intra Day Update will be published shortly. NO additional email will be sent.

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IMPORTANT INTRA DAY UPDATES PUBLISHED:

Was that an Island Reversal SELL SIGNAL we saw this morning?  Well, for the short term it worked out well. But remember that the aggressive short term signals, are just that.

Always be looking at the short to mid term (swing) trend to see what is going on in the slightly bigger picture. A good trader is constantly taking inventory of the technicals on those time frames.   That will avoid over-confidence leading to arrogant trading; and helps maintain objectivity and continual profitability.

The action in the major US equity indexes this afternoon will have short to mid term implications. Watch the action closely.

TURN OFF THE CNBC! At least turn off the volume.

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